Short Interest in Holley Inc. (NYSE:HLLY) Declines By 8.1%

Holley Inc. (NYSE:HLLY) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,930,000 shares, a drop of 8.1% from the November 15th total of 2,100,000 shares. Based on an average daily trading volume, of 389,600 shares, the short-interest ratio is currently 5.0 days. Currently, 3.4% of the company’s stock are short sold.

Holley Trading Down 3.1 %

Shares of HLLY opened at $2.77 on Monday. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. Holley has a 1-year low of $2.29 and a 1-year high of $5.23. The stock has a market cap of $331.84 million, a price-to-earnings ratio of 21.31 and a beta of 1.47. The firm has a 50 day simple moving average of $2.79 and a 200-day simple moving average of $3.17.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $134.00 million during the quarter, compared to analyst estimates of $142.53 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The business’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. Equities analysts forecast that Holley will post 0.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on HLLY shares. Telsey Advisory Group reduced their price target on shares of Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Monday, November 11th. Benchmark reiterated a “buy” rating and set a $12.00 target price on shares of Holley in a research note on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Holley by 52.3% in the second quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after acquiring an additional 334,940 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Holley by 129.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock worth $34,335,000 after buying an additional 5,409,997 shares during the period. Algert Global LLC lifted its holdings in Holley by 31.1% in the 2nd quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after buying an additional 4,924 shares in the last quarter. American Century Companies Inc. lifted its holdings in Holley by 23.3% in the 2nd quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock worth $230,000 after buying an additional 12,186 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Holley in the 2nd quarter valued at about $42,000. 39.70% of the stock is owned by institutional investors and hedge funds.

Holley Company Profile

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners, automotive performance plumbing products; and exhaust products, as well as shifters, converters, transmission kits, transmissions, tuners, and automotive software.